Landsdowne Investment Properties are proud to announce an expansion to Marbella Spain. Landsdowne will have a dedicated Sales, Rentals and Management team aimed specifically at sourcing, letting and managing investment properties for South African and International investors in Marbella, with the same Ambition, Integrity & Passion that our clients have become accustomed.
Below is the relevant information on the new Spanish Residency legislation:
A new law has been approved in Spain called "Ley de Emprendedores y Ayuda a la Internacionalización". This law aims to improve the health of the Spanish economy. This is very interesting for foreign people looking to invest in Real Estate.
This new decision says that whoever buys a property with a value over 500 000 Euros will be able to obtain an "investors-visa" or residence visa. The Tax Administration has informed that all the paperwork must be done in the Spanish Consulate of the country that the investor is in.
This visa will give the possibility to live in Spain for two years. The requirements to apply for it are:
The residence visa must be updated every two years. To update the visa for another two years it is necessary to fulfil the following:
The 500 000 Euros investment cannot be a mortgage with a Spanish bank and it must be viewed as a cash purchase by the Spanish government. In other words the property must be purchased on a cash basis.
The key to buying an investment property in Marbella/Costa del Sol is for it to be as close to Puerto Banus as possible. Puerto Banus is the tourist hot spot on the Coast. Although the properties closer to the port are fairly more expensive, they fetch higher rental returns and finding tenants are almost guaranteed both short term and long term.
Landsdowne have a number of properties between the price range of 500 000 - 600 000 Euros in this area. Many of these properties are situated in prime locations like a development situated near Guadalpin Banus which is highly sort after, especially by holiday makers which is beachside in Puerto Banus. These properties have recently been reduced from a listing prices of 630 000 to 490 000 Euros, due to the economic downturn. It has become a buyer?s market where cash is king. The weekly rental price that an owner can achieve in high season is 2500/week and around 2000/month on a long term basis. Landsdowne would take advantage of both the high and low seasons to maximise the rental return. These apartments have been totally refurbished and redecorated. The annual net rental income for these properties is approximately 40 000 Euros. Which is a net rental return of 8.16%/year.
Landsdowne believe that this is an excellent opportunity to take advantage of owning a substantially reduced priced property in Spain, have the property professionally managed at an attractive rental return of 8% as well as obtaining Spanish residency.
If you require any additional information about this opportunity or would like to be put in touch with the Landsdowne Spanish representative please contact Jonathan Kohler on +27 (82) 904 0739. Alternatively email firstname.lastname@example.org